Formation Group PLC Further re Profit Share Agreement (3683X)

TIDMFRM

RNS Number : 3683X

Formation Group PLC

28 August 2015

Formation Group PLC

("Formation" or the "Company")

28 August 2015

Further re Profit Share Agreement

On 8 July 2015 Formation announced a profit share agreement with Sunbel Development Limited and Pinacle Developments Limited in relation to a development property on Streatham High Road, London, entitling Formation to 40 per cent. of the net profit arising from that development.

The Company is pleased to announce that it has now received the sum of GBP2 million as part of the profit share arrangement and this will be reinvested by Formation in future property developments.

The Company intends to issue a more detailed trading statement shortly.

--ENDS--

FOR FURTHER INFORMATION, PLEASE CONTACT:

 
 Formation Group Plc 
  David Kennedy - Chief Executive Officer      020 7920 7590 
 Nominated Adviser 
  Northland Capital Partners Limited 
  William Vandyk / Gerry Beaney                020 7382 1100 
 Broker 
  Peterhouse Corporate Finance Limited 
  Duncan Vasey / Fungai Ndoro                  020 7469 0930

This information is provided by RNS

The company news service from the London Stock Exchange

END

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August 28, 2015 02:00 ET (06:00 GMT)

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